Category Archives: CNN – Business

Softbank’s blockbuster IPO has flopped in its market debut. Shares in the Japanese company’s mobile telecommunications unit plunged as much as 10% in Tokyo on Wednesday, their first day of trading. The business is one of Japan’s biggest wireless carriers and has provided the foundation for SoftBank CEO Masa Son’s vast tech empire. By listing…… MORE

The bear market in oil keeps getting worse as worries about global growth and a supply glut ratchet higher. US oil prices plummeted 7% on Tuesday to settle at $46.24 a barrel. It was crude’s weakest close since August 2017. The deepening downturn in the oil patch is yet more evidence of investors fleeing risky…… MORE

The auto industry is pushing back on new EU targets that would slash carbon emissions produced by cars and vans. EU officials struck a deal late Monday that aims to reduce automakers’ carbon dioxide emissions from new cars by 37.5% ahead of 2030. The targeted reduction for new vans is 31%. The European Automobile Manufacturers…… MORE

Alan Greenspan says the party’s over on Wall Street. The former Federal Reserve chairman who famously warned more than two decades ago about “irrational exuberance” in the stock market doesn’t see equity prices going any higher than they are now. “It would be very surprising to see it sort of stabilize here, and then take…… MORE

Researchers at the World Economic Forum are highlighting a troubling trend: Fewer women around the world are working. WEF said in a report published Monday that women are slowly narrowing the gender gap when it comes to income and representation in senior management. But after years of closing the gap in workforce participation, momentum has…… MORE

Asos is having a nightmare holiday season. Shares in the UK online fashion retailer plunged 40% on Monday after it warned that weak sales in the crucial month of November would harm its annual profit for 2018. “The current backdrop of economic uncertainty across many of our major markets together with a weakening in consumer…… MORE

Malaysia has filed criminal charges against Goldman Sachs over its dealings with a state investment fund at the heart of a multibillion-dollar corruption scandal. The case relates to bond sales that Goldman (GS) arranged and underwrote for 1Malaysia Development Berhad (1MDB) in 2012 and 2013. The US investment bank and four individuals — two of…… MORE

Colin Kroll, co-founder and CEO of the hit gaming app HQ Trivia, was found dead Sunday morning in New York. He was 34 years old. “We learned today of the passing of our friend and founder, Colin Kroll, and it’s with deep sadness that we say goodbye,” a spokesperson for HQ said in an emailed…… MORE

Boeing on Saturday delivered its first 737 airliner from its new factory in China — a debut that comes amid a 90-day truce in the US-China trade war. The 100-acre completion site in in Zhoushan, where workers install interiors to 737s built in Seattle for sale in the Chinese market, is part of the US…… MORE

Huawei is coming under pressure in two more key European markets. Telecommunications firm Orange has ruled out using Huawei products in its core 5G network in France, and Germany’s Deutsche Telekom says it’s reviewing purchases of Huawei equipment. The Chinese company, which sells smartphones and telecommunications equipment around the world, faces increased scrutiny in the…… MORE